Payments platform TransferWise has secured top spot in a report from online investment company SyndicateRoom of the fastest growing businesses in the UK.
Payments platform TransferWise secured the top spot after demonstrating a valuation increase of 57x over the course of the three-year period. Delivery company Deliveroo was second with a valuation increase of 56x over the same three years.
Says Kristo Käärmann, CEO and Co-founder, TransferWise:
“Our biggest driver of growth is word of mouth. We’re fortunate to have the support of world leading investors which means we can accelerate product development, but really what drives us is making money move across borders easier, cheaper, faster for the millions of people who need to manage their money across two or more countries.”
One business which comes in at number 14 on the SyndicateRoom’s list of the fastest growing companies is online booking and appointments software company BookingBug.
With three full-service offices in Boston, London and Sydney, BookingBug is trusted by hundreds of banks, retailers and governments to manage their customer engagement journeys. These need to be secure, data-driven and fully integrated with internal software and systems.
Explains Glenn Shoosmith, CEO and founder, BookingBug:
“Our growth over the last few years has come largely from the industry itself. No business should be raising money for the sake of it; the signal should come from outside. If the size of your market continues to grow, that can be a sign that you might need capital to keep pace.”
Together, the winning 100 companies in the SyndicateRoom’s list span 12 different sectors, employ around 10,200 people and generate £605,945,417 in revenue. However, a major gender gap is present with only seven female business founders featuring on the list.
London houses the vast majority of Top 100 winners with 71 of 100 companies headquartered in the capital.
Says Gonçalo de Vasconcelos, CEO and Co-founder, SyndicateRoom:
“The first thing that springs to mind is just how inspiring they all are – from businesses that redefine our relationship with money to companies that are literally recreating the Sun’s power on Earth.”
“When we consider that these are the fastest-growing private businesses by valuation, it’s not surprising that the winners’ relentless growth is drawing ambitious investors to join the action.”
Started in 2013, SyndicateRoom has rapidly grown to include more than 100 high-growth businesses in its portfolio. It has been recognised as Best Investment Platform at the Growth Investor Awards two years running. For more information visit: //www.syndicateroom.com/
For the full list and ranking, including multiples of valuations, see here.